Idea -> Product + Product Market Fit -> Team -> Growth
Price: How much selling do you need to do? Higher prices and larger economic decisions for customers are better suited to sales than marketing.
Market size: Are you going after a large pool of customers where direct sales would be inefficient? Or a small group who need more attention before they’ll make a decision?
Product Complexity: Do you need a salesperson to explain the features and benefits to potential customers? Or is it self-explanatory enough that people who buy it can start using it right away?
B2B or B2C: Are you selling to companies or to individuals? In most cases, individuals will be better suited to marketing campaigns, while companies need to be sold to
Relationships: Does your success rely on building a long-term relationship with a customer? Sales helps you connect more regularly with people, while marketing puts you in front of people when they need you
Like any plan or strategy, you need to do a bit of research and digging before you can put it together. Your go to market strategy should cover a lot of information in a short, concise manner.
What problems does your product solve for people and how have you validated the need? It might seem obvious that a company and product will only succeed if people need it. But if history is anything to go on, demand isn’t always so easy to determine. In fact, a recent analysis of 100+ startups that shut down last year found that 42% didn’t solve a valid customer problem.
Who is going to buy your product, what do you know about them, and how does your strategy support them? ‘Whoever understands the customer best wins.’ Steli Efti, CEO of sales CRM Close.com Before you can put together your go to market strategy, you need to know who exactly your customer is. This means both high-level knowledge like basic demographic info, as well as specific knowledge of your ideal customer—their wants, needs, passions, and preferences.
To do this, break your questioning down into a few levels. i. Who is your target market? ii. Who is your ideal customer within that market? Finally, what do you know about the market and your customers that supports your strategy? How does what you know and the personas you’ve created support your long-term vision? The more you can make realistic customer profiles, the better you’ll be able to make decisions about how to get in front of them, talk to them, and eventually make them customers.
BlueSense Analytics is an arm of our consulting services that helps your startup gather data + intel that will help your startup improve processes, overcome everyday challenges + boost client satisfaction.
BlueSense Analytics will be happy to help you achieve your research goals by working closely with you in understanding the sort of data you require + how you would like us to initiate the research process.
BlueSense Analytics obtains data and analyses it in order to help our startup clients effectively manage their startup + make better decisions. Our business research includes market survey, financial data, consumer feedback, product research + competitive analysis; founders + executives who use our research are able to better understand their markets + improve product market fit + marketshare utilising our research.
BlueSense Analytics helps startups like yours to be one step ahead of the competition.